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https://www.latimes.com/entertainme...61-million-in-one-quarter-because-of-covid-19
AMC Theatres lost $561 million in one quarter, with revenue down nearly 100%, because of COVID-19
AMC Theatres, the world’s largest cinema operator, lost $561 million in its most recent quarter as revenue collapsed because of the COVID-19 pandemic.
The Leawood, Kan.-based exhibitor, owned by China’s Dalian Wanda Group, has been hammered by the coronavirus crisis, which has kept its 630 U.S. theaters closed since mid-March. Revenue was $18.9 million during the three months that ended in June, down 99% from the same period a year ago, the company said Thursday.
Second-quarter earnings were even worse than Wall Street anticipated. AMC lost $5.38 a share, compared with the average $4.34-per-share loss predicted by analysts polled by FactSet.
AMC’s stock was little changed in after-hours trading, after closing essentially flat at $4.14.
AMC Theatres lost $561 million in one quarter, with revenue down nearly 100%, because of COVID-19
AMC Theatres, the world’s largest cinema operator, lost $561 million in its most recent quarter as revenue collapsed because of the COVID-19 pandemic.
The Leawood, Kan.-based exhibitor, owned by China’s Dalian Wanda Group, has been hammered by the coronavirus crisis, which has kept its 630 U.S. theaters closed since mid-March. Revenue was $18.9 million during the three months that ended in June, down 99% from the same period a year ago, the company said Thursday.
Second-quarter earnings were even worse than Wall Street anticipated. AMC lost $5.38 a share, compared with the average $4.34-per-share loss predicted by analysts polled by FactSet.
AMC’s stock was little changed in after-hours trading, after closing essentially flat at $4.14.
